Since the beginning of this week, several Wall Street investment banks, including UBS and Goldman Sachs, have continuously released research reports, reaffirming Alibaba's "buy" rating. Some international investment banks believe that the market has not seen the full picture of Alibaba clearly, and emphasize that the user first and price power strategies of Taobao and Tmall have shown initial results, forming a positive growth cycle between users, merchants, and platforms.